Hello,
I setup facebook campaigns in the following order:
1. Pick an offer (dating for my niche)
2. Find some images that match the campaign target age/sex.
3. Find keywords for interests or just match age(range according to demographics)/sex
3. Add 45 pictures to facebook with multiple duplicate images. Typically 3 of each (polarbacon tip)
4. Ad copy with a couple different variations. Typically two different ad copies
5. Set budget, start campaign.
6. Let the campaign run, after a couple thousand impressions I'll check ads. If there is an ad that has 1k or more impressions with low ctr. I'll then pause that ad.
7. Typically direct link the offers to see if they convert at all. If not after 10x I'll pause that campaign. Then onto the next offer.
8. If one ad is doing well, I'll make some changes in Photoshop to try and increase the ctr. Typically upload images raw with no editing.
Well that's how I setup my facebook campaigns. Do you see me doing anything wrong, that you'd recommend changing? Any feedback would be greatly appreciated!
Note: I did quite a bit of facebook dating offers in the past. But the competition has gotten pretty stiff..
Everything listed is nearly exactly what I do when I start a new campaign at ANY self serve ad platform. I don't use FB much at all, but the formula listed above should always get you profitable after enough testing, just keep testing for good images, get your CTR up, and rock.
ok thanks for the feedback. I see your from Minnesota as well.. 
The process looks good to me. The problem could just be the competition is too stiff you need either a sick payout, a new angle, or sneak through an ad that otherwise wouldn't past the review team.
ORRR you can just go find greener pastures.